Swipe Right on Investing: Why You Can't Afford to Miss Out
September 15, 2023 | Written by Alisha Chowdhury | Est. Reading Time = 3 mins
Okay, let’s be real. The world of investing can seem like a vast, intimidating maze of numbers, charts, and confusing jargon. You might've scrolled past investing memes or overheard intense discussions about stocks and thought, “That’s not for me.” We get it! It can feel scary, uncomfortable, and downright risky. But let’s take a deep breath and demystify this together because everyone—including you—can navigate the world of investing. Here’s how.
1) What on Earth is Investing?
At its core, investing is allocating your money in hopes that it will grow over time. Imagine you’re a gamer: investing is like leveling up your character, but in this game, the character is your bank account, and the levels represent financial growth (you can get a flavor of a game like this on the Mongo app!). It’s about putting your money into various avenues, like stocks, bonds, or real estate, where there’s potential for it to multiply.
2) Why Should You Even Bother Investing?
Well, saving is great (and essential), but if you truly want your money to grow, merely stashing it under your mattress or in a basic savings account won’t cut it. With the ever-looming shadow of inflation, the value of your money might actually decrease over time if you don’t invest. Investing offers an opportunity for your money to outpace inflation and grow exponentially. It’s the difference between a gentle stroll and a strategic sprint towards your financial goals.
3) The Power of Starting Early
Here’s a mind-blowing fact: if you start investing even a small amount now, you could end up with more money than someone who invests more but starts later. It’s all about compound interest, the snowball effect where your earnings generate even more earnings. The earlier you harness this power, the more snowball-y your money gets.
4) Taking Your First Investment Steps
We won't sugarcoat it—investing requires some groundwork. But it’s doable:
Educate Yourself: While you don't need to be an expert, having foundational knowledge helps. Dive into beginner podcasts, books, or even check out the Mongo app for educational content. We simplify and personalize your learning journey to make it easy to digest and interesting!
Assess Your Finances: How much from your earnings (yes, even those part-time shifts) can you comfortably set aside?
Pick a Platform: There are numerous beginner-friendly investment platforms. Do your research, consider fees, and check out reviews. On the Mongo app, we’ll help bridge that gap for you and guide you towards those platforms.
Diversify: Spread your investments. It’s like having various safety nets.
Stay Updated, Not Obsessed: Regularly check in on your investments. Adjust if necessary, but don’t panic over short-term dips.
5) Mindful Investing: Making It Approachable
Think of investing like learning to ride a bike. At first, it might seem daunting, even scary. But with time, practice, and perhaps a few stumbles, you'll find your rhythm. The same goes for investing. Start small, build your confidence, and remember: it’s okay to seek guidance. Whether that’s from mentors, the Mongo app, or financial consultants, help is always available.
The Big Picture
Investing isn't reserved for millionaires or financial gurus. It's a tool, an opportunity, a door to a more secure and enriched future. And while the world of stocks, bonds, and portfolios might seem lightyears away from your current day-to-day, remember: every expert was once a beginner.
So, even if you’re just earning from a part-time gig or occasional freelance work, there’s potential in every penny. Embrace the adventure, be patient with yourself, and watch as today’s investments pave the path for tomorrow’s dreams. 💰🌟
Disclaimer: Our blog is for informational purposes only, you should not consider any such information or other material as investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Mongo App or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction. When investing your capital is at risk.
